Rolling Stone magazine to be sold

Rolling Stone founder Jann Wenner plans to sell his company's controlling stake in the legendary magazine that chronicled the music and politics of the counterculture movement and changed music journalism forever.

The New York Times reported on Sunday that Wenner and his 27-year-old son, Gus, the president and chief operating officer of Wenner Media, hope to stay on at the magazine, but it's a decision for the buyer.

Gus Wenner said in an interview last week that "publishing is a completely different industry than what it was."

No potential buyers have been named.

The company's other magazines, Us Weekly and Men's Journal, were sold recently to American Media Inc., helmed by publisher David J. Pecker.

The elder Wenner says he hopes to find a buyer that understands Rolling Stone's mission.